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Retirees Weighed Down by Heavy Economic Changes

09/22/2008 JOHN LELAND AND LOUIS THE NEW YORK TIMES
Retirees, already buffeted by soaring food, health care and fuel costs, now are suffering from the decline in financial markets. Often their incomes depend on money from interest-bearing accounts and corporate dividends, both of which have fallen, and with share prices down they are reluctant to sell stocks. As a result, many reach to stretch every dollar and live in financial fear.
Original story

Labels: 401(k), financial market, pension, poverty, retiree

posted by Valaree and Brea at 2:27 PM